Glebe Park & James Bland Redevelopment Proposal

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Company BackgroundCompany Background

EYA History – Founded in 1992 specializing in homeownership, urban infill residential development – 30 communities throughout Washington region including 8 in Alexandria

EYA Sales - $125M/year, average of 200 homes/year

EYA Team - Fully-integrated organization -acquisition, land development, construction, and sales

EYA Recognition – Over 160 local and national awards for design, sales and operations

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EYA Development PhilosophyEYA Development Philosophy

Urban Infill – Redevelopment with proximity to work, recreation, retail and public transportation

High-Quality - Creative site plans and high-quality architecture compatible with surroundings

Mixed-Use and Diverse – Broad product types, price points, geographic locations

Catalyst for Revitalization – Projects spark development in surrounding community

Community Orientation - Build consensus through participatory process

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EYA Projects in AlexandriaEYA Projects in Alexandria

2

187

5

43

6

5. Rivergate

6. Lofts at Braddock Metro

7. Chatham Square

8. Potomac Greens

1. Villages of Stonegate

2. Carlyle City Residences

3. Old Town Village

4. Ford’s Landing

Alexandria

DC

MARYLAND

VIRGINIA

15 years of successful projects

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Duke and Henry Streets116 Townhomes and 39 Courtyard Homes

Old Town VillageOld Town Village Alexandria, VA

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FordFord’’s Landing s Landing Alexandria, VA

Franklin and Union Streets136 Market Rate Townhomes

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Lofts at Braddock MetroLofts at Braddock Metro Alexandria, VA

Route 1 and Madison Street40 Loft-Style Townhomes

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Chatham SquareChatham Square Alexandria, VA

Oranoco and Pitt Streets100 Market Rate Townhomes, 52 Subsidized Rental Homes

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Potomac GreensPotomac Greens Alexandria, VA

227 Townhomes (120 by EYA)15,000 sf retail

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Project BackgroundProject Background

1987: ARHA acquires Glebe Park 112 affordable rental units & 40 Public Housing units.

By 2006, 90+ vacant units and annual losses of more than $500,000

Property is plagued by mold and substantial deferred maintenance

July 2006: ARHA selects EYA as its development partner through RFQ process

EYA and ARHA propose redevelopment of Glebe Park and James Bland with new public and market-rate housing

October 2007: SUP approved for Glebe Park Redevelopment

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Project BackgroundProject Background

November 2007: ARHA applies for federal HOPE VI grant for Bland Redevelopment

Only five grants awarded nationwide out of almost 30 applications, not including Bland

February 2008: Tax Credit Application submitted for Glebe Park

Award of tax credits likely in May, 20008

Glebe Park relocation/demolition to begin November, 2008

June 2008: ARHA and EYA to submit DSUP application for James Bland

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Glebe ParkGlebe Park

West Glebe –New Construction

Old Dominion -New Construction

Old Dominion Renovation

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James BlandJames Bland

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James Bland RedevelopmentJames Bland RedevelopmentARHAARHA’’s Key Criterias Key Criteria

One for One Replacement of 234 ARHA Units per City Council Resolution 830

Improved living conditions for ARHA residents

Phase redevelopment to limit relocation

Provide Section 3 employment opportunities

Identify and secure replacement site for 16 ARHA units prior to November 2008

Financially Feasible Redevelopment without HUD financing

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James Bland RedevelopmentJames Bland RedevelopmentPlanning & Community Key CriteriaPlanning & Community Key Criteria

Respect sensitive edge relationships to existing development

Respect Parker Gray neighborhood characteristics & Design Guidelines

Visible, useable, and safe ground level open space

Height scale and massing consistent with Braddock Plan discussions

Marketable mixed income design

Incorporates input from the community, civic associations, and Braddock East Advisory Group

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James Bland RedevelopmentJames Bland RedevelopmentEconomic Viability Key CriteriaEconomic Viability Key Criteria

Economically Viable

Sufficient market-rate land value to fund reconstruction of ARHA Units

Marketable ratio of public to market rate units

Phaseable construction

Public Housing design and operation consistent with ARHA policy/budget and Tax Credit guidelines

Affordable Parking

Adequate subsidies for Workforce Housing, if included

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Financing the Glebe Park & James Bland Redevelopment

Create 218 * new ARHA

units

(+/- $55 MM)

Project Financing

Total Project Funding

(+/- $55 MM)

Glebe Park84 ARHA units(+/- $21 MM)

James Bland134 ARHA

units(+/- $34 MM)

Market Rate Land Value

(+/- $22 MM)

Low Income Housing Tax

Credits(+/- $33 MM)

* 16 ARHA Units located off site funded by City of Alexandria

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ARHA Units onARHA Units onGlebe Park & James BlandGlebe Park & James Bland

EXISITNG PUBLIC HOUSING UNITS AT JAMES BLAND AND GLEBE PARKPublic

Housing Units 1BR 2BR 3BR 4BR

Total Bedrooms

Glebe Park 40* 26 13 1 0 55James Bland 194 8 104 68 14 476Total Existing ARHA Units 234 34 117 69 14 531

PROPOSED PUBLIC HOUSING UNITS AT JAMES BALND AND GLEBE PARKPublic

Housing Units 1BR 2BR 3BR 4BR

Total Bedrooms

Glebe Park 84 34 10 26 14 188James Bland 134 0 98 36 0 304Total Proposed ARHA Units** 218 34 108 62 14 492

* 40 Public Housing Units covered under Resolution 830 and 112 Affordable Rental Units not covered by Resolution 830** 16 ARHA Units located off site funded by City of Alexandria (9 2-BR / 7 3-BR)

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James Bland Concept PlanJames Bland Concept Plan

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Illustrative Site PlanIllustrative Site Plan

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Thematic ArchitectureThematic Architecture

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Perspective at Alfred & MontgomeryPerspective at Alfred & Montgomery

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Perspective at Madison & N PatrickPerspective at Madison & N Patrick

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Neighborhood Parks/Open SpaceNeighborhood Parks/Open Space

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Three Cross SectionsThree Cross Sections

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Unit Mix PlanUnit Mix Plan

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MixedMixed--Income 3D ModelIncome 3D Model

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Preliminary Redevelopment Concept Preliminary Redevelopment Concept SummarySummary

134 replacement ARHA Units 2/3 bedrooms

+/- 270 market rate units, mix of townhomes and multi-family

1/3 – 2/3 ratio of public to market rate, proportionally distributed across site

Transition height and density from Route 1 to Columbus St, 4-stories to 2.5-stories

Varied open space across all blocks

Plan for a variety of architectural styles. Public units indistinguishable from market rate

Sufficient parking to meet market and ARHA needs

Financially viable development concept

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Project ScheduleProject Schedule

Glebe Park SUP & Loan Approval: 10/13/07

Submit Tax Credit Application: 02/15/08

Glebe Park Tax Credit Award: 05/07/08

James Bland SUP Approval: Oct. 2008

Glebe Park Construction: Nov. 2008 – Dec. 2010

James Bland Tax Credit Applications: Feb. 2009 – Feb. 2012

James Bland Build-out: Nov. 2009 – Nov. 2014